Sixth Street Specialty Lending (NYSE:TSLX) Stock Price Up 1.3% – Still a Buy?

Sixth Street Specialty Lending, Inc. (NYSE:TSLX) shares rose 1.3% during trading on Wednesday . The company traded as high as $20.96 and last traded at $20.95. Approximately 60,691 shares were traded during trading, a decline of 82% from the average daily volume of 344,946 shares. The stock had previously closed at $20.69.

Analyst Upgrades and Downgrades

A number of research firms recently commented on TSLX. Royal Bank of Canada reissued an “outperform” rating and issued a $23.00 price target on shares of Sixth Street Specialty Lending in a research report on Tuesday, November 12th. Keefe, Bruyette & Woods lowered their target price on shares of Sixth Street Specialty Lending from $23.00 to $21.50 and set an “outperform” rating for the company in a report on Thursday, November 7th. LADENBURG THALM/SH SH upgraded shares of Sixth Street Specialty Lending from a “neutral” rating to a “buy” rating and set a $21.00 price target on the stock in a report on Wednesday, November 6th. Finally, Wells Fargo & Company decreased their price objective on shares of Sixth Street Specialty Lending from $22.00 to $21.00 and set an “overweight” rating for the company in a research note on Tuesday, October 29th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $22.00.

Sixth Street Specialty Lending Stock Performance

The company has a quick ratio of 2.50, a current ratio of 2.50 and a debt-to-equity ratio of 1.17. The company has a market cap of $1.94 billion, a P/E ratio of 10.10 and a beta of 1.06. The company’s 50-day moving average is $20.75 and its two-hundred day moving average is $20.96.

Sixth Street Specialty Lending (NYSE:TSLX) last posted its quarterly earnings results on Tuesday, November 5th. The financial services provider reported $0.57 earnings per share for the quarter, hitting the consensus estimate of $0.57. Sixth Street Specialty Lending had a return on equity of 13.55% and a net margin of 39.05%. The company had revenue of $119.22 million during the quarter, compared to the consensus estimate of $119.85 million. During the same quarter in the prior year, the company earned $0.60 EPS. Equities analysts predict that Sixth Street Specialty Lending, Inc. will post 2.31 EPS for the current year.

Sixth Street Specialty Lending Cuts Dividend

The firm also recently disclosed a dividend, which will be paid on Friday, December 20th. Investors of record on Monday, December 2nd will be paid a $0.05 dividend. The ex-dividend date is Friday, November 29th. This represents a yield of 7.59%. Sixth Street Specialty Lending’s dividend payout ratio is 89.32%.

Institutional Trading of Sixth Street Specialty Lending

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Private Advisor Group LLC increased its holdings in Sixth Street Specialty Lending by 26.8% during the 3rd quarter. Private Advisor Group LLC now owns 25,503 shares of the financial services provider’s stock worth $524,000 after acquiring an additional 5,398 shares during the period. Legacy Capital Wealth Partners LLC grew its position in shares of Sixth Street Specialty Lending by 98.6% during the 3rd quarter. Legacy Capital Wealth Partners LLC now owns 144,698 shares of the financial services provider’s stock valued at $2,971,000 after purchasing an additional 71,849 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its holdings in shares of Sixth Street Specialty Lending by 5.4% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 572,480 shares of the financial services provider’s stock worth $12,222,000 after purchasing an additional 29,365 shares during the period. Van ECK Associates Corp raised its position in shares of Sixth Street Specialty Lending by 6.6% in the third quarter. Van ECK Associates Corp now owns 2,289,435 shares of the financial services provider’s stock worth $47,117,000 after buying an additional 141,463 shares in the last quarter. Finally, 1832 Asset Management L.P. boosted its stake in Sixth Street Specialty Lending by 6.6% during the second quarter. 1832 Asset Management L.P. now owns 1,279,000 shares of the financial services provider’s stock valued at $27,307,000 after buying an additional 79,000 shares during the period. 70.25% of the stock is currently owned by institutional investors.

About Sixth Street Specialty Lending

Sixth Street Specialty Lending, Inc (NYSE: TSLX) is a business development company. The fund provides senior secured loans (first-lien, second-lien, and unitranche), unsecured loans, mezzanine debt, and investments in corporate bonds and equity securities and structured products, non-control structured equity, and common equity with a focus on co-investments for organic growth, acquisitions, market or product expansion, restructuring initiatives, recapitalizations, and refinancing.